SBI Magnum Taxgain Direct Plan Growth is a Equity Mutual Fund Scheme launched by SBI Mutual Fund. This scheme was introduced to investors on 01 Jan 2013. Dinesh Balachandran is the Current Fund Manager of SBI Magnum Taxgain Direct Plan Growth.The fund currently has an Asset Under Management(AUM) of ₹6,683 Cr and the Latest NAV as of 19 Sep 2019 is ₹135.20.
The SBI Magnum Taxgain Direct Plan Growth is rated Moderately High risk. Minimum SIP Investment is 500. Minimum Lumpsum Investment is 500. Nil.
Investment Objective
The prime objective of scheme is to deliver the benefit of investment in a portfolio of equity shares, while offering tax rebate on such investments made in the scheme under section 80 C of the Income-tax Act, 1961. It also seeks to distribute income periodically depending on distributable surplus.
Tax Implications
Upto Rs. 1.5 lac will be tax free under 80C. Lockin of 3 years. Returns will be taxed at 10%.
Scheme Information Document(SID)
₹500
Min for First Investment
₹500
Min for Second Investment